Heatcube´s high voltage connection to grid at Nordjylland Power Station successfully commissioned

Oslo, Norway 12 July 2023 - Kyoto Group is pleased to announce that the first ever full-scale Heatcube, at the Nordjylland Power Station in Aalborg, Denmark (“Norbis Park”) has now been connected to the grid and the high voltage connection between the transformer building and the world’s largest electrical heater for molten salt, as a key equipment of Heatcube, has been successfully commissioned.

The connection and electronical testing of the heater were accompanied by a team of technicians from Vulcanic, the Spirax Sarco company that has delivered the electrical heater to Heatcube at Norbis Park and that recently invested in and signed a long-term Partnership Agreement with Kyoto Group, covering commercial roll-out and technology development related to the electrical heater for future generations of Heatcube.

“We are proud of the smooth and successful introduction of the world’s largest electrical heater for molten salt and are looking forward to the large-scale commercial roll-out of Heatcube as well as the further development of the technology together with Kyoto Group,” says Christopher Molnar, Managing Director of Vulcanic and incoming board member of Kyoto Group.

Heatcube is now monitored and controlled using the Battery Management System (BMS) from a remote control room or locally at the panels, by the commissioning engineers. The BMS enables all equipment and assets for testing and protects Heatcube using automatic safety measures which are now installed.

“Today marks a momentous milestone in our journey as a leading technology provider to the net-zero society,” says Kyoto’s Chief Project Officer Agnieszka Sledz. “We are about to successfully conclude our groundbreaking project that not only showcases the capabilities of our technology as well as our organization but also sets a precedent for thermal energy storage as an enabler to electrify industrial process heat.”

The final step in the hot commissioning process for Heatcube at Norbis Park is to circulate molten salt through Heatcube to discharge steam from the steam generator, which is planned for the second half of July.

About Heatcube

Kyoto Heatcube provides thermal energy storage and heat generation in one product. It supplies industrial customers with the technology needed to lower both their costs for producing process heat and their CO2 emissions using intermittent renewable energy sources instead of fossil fuels for heat production.

Heatcube can be configured with storage capacities from 16 MWh to over 96 MWh, with a discharge effect for each Heatcube of up to 20 MW. It is an innovative, low-cost, and modular storage solution for thermal energy that can use multiple renewable energy sources to heat molten salt to over 415 degrees Celsius. The high-temperature salt is then used to produce steam for industrial production processes.

For further information, please contact:

Håvard Haukdal, Kyoto Group CFO

havard.haukdal@kyotogroup.no

+47 48 10 65 69

About Kyoto Group

Heat accounts for two thirds of industrial energy consumption. Traditionally, nearly all of it is based on fossil fuels. Kyoto Group’s Heatcube, a thermal energy storage (TES) solution, provides a sustainable and cost-effective alternative by capturing and storing abundant but variable energy from sources such as solar and wind. Founded in 2016, Kyoto Group is headquartered in Oslo, Norway, and has subsidiaries in Spain and Denmark. The Kyoto share is listed on Euronext Growth (ticker: KYOTO). www.kyotogroup.no

About Spirax-Sarco Engineering

Spirax‐Sarco Engineering plc is a leading global thermal energy management and fluid technology solutions Group that aims to deliver sustainable value to all its stakeholders through engineering a more efficient, safer and sustainable world.  Headquartered in Cheltenham (UK), the Group comprises three world‐leading Businesses: Steam Specialties, for the control and management of steam; Electric Thermal Solutions, for advanced electrical process heating and temperature management solutions; and Watson-Marlow, for peristaltic pumping and associated fluid path technologies.  In 2022, the Group launched its TargetZero solutions for the decarbonisation of critical industrial processes.

The Company’s shares have been listed on the London Stock Exchange since 1959 (symbol: SPX) and it is a constituent of the FTSE 100 and the FTSE4Good Indexes. www.spiraxsarcoengineering.com